Tutor Perini Wins Bay Area Subway Contract

By Business Journal Staff
Thursday, June 20, 2013

Tutor Perini Corp. announced Thursday it had won a contract for work on the San Francisco Central Subway Project.

The Sylmar construction company’s contract with the San Francisco Municipal Transportation Agency is valued at $840 million. It includes work on three underground subway stations, a platform station and related track and systems.

The light rail contract comes weeks after the California High Speed Rail Authority board unanimously approved Tutor Perini’s $985-million bid to build the first stage of a rail line from Fresno to Madera.

The San Francisco project will be managed by Tutor Perini’s Civil Group including several of the company’s subsidiaries such as Frontier-Kemper Constructors and Desert Mechanical.

Shares of Tutor Perini closed down 73 cents, or 4 percent to $17.64 on the Nasdaq.